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Last Updated: 07/24/2024
in Escrow, Tax & Insurance
Can I remove my escrow account? Options to remove an escrow account from a loan vary based on factors such as state laws, investor guidelines, loan type, property type and Loan-to-Value (LTV) ratio. If the loan qualifies, tax payments and homeow...
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Last Updated: 09/24/2024
in Escrow Statement FAQs
What is an escrow account? Think of it like a savings account dedicated to the tax and/or insurance expenses required for your property—and as your loan servicer, we help you manage it. Depending on the terms of your mortgage, your escrow account m...
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Last Updated: 09/24/2024
in Escrow Statement FAQs
What is an escrow shortage? All escrow accounts have a minimum required balance , which equals your expected tax and insurance expenses plus some extra money in case your bills go up – this is called a cushion. If your escrow account balance is e...
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Last Updated: 09/24/2024
in Escrow Statement FAQs
What is an escrow surplus? All escrow accounts have a minimum required balance, which equals your expected tax and insurance expenses plus some extra money in case your bills go up – this is called a cushion. If your escrow account balance is mor...
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Last Updated: 09/24/2024
in Escrow Statement FAQs
How can I see my escrow account activity? As your mortgage partner, we strive to make it easy to view and understand your escrow activity. We provide 24/7 access to track your escrow balance, deposits, and disbursements online, plus other easy ...
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Last Updated: 09/24/2024
in Escrow Statement FAQs
Who do I contact with questions about my escrow expenses? Taxes: Your local tax assessor’s office. Insurance premiums: Your insurance company. Your escrow payments and expenses: Reach out to us. We'll be happy to help! Please see our...
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Last Updated: 09/24/2024
in Escrow Statement FAQs
Why did my payment change? When your taxes and/or insurance bills change from year to year, it may be necessary to adjust the amount you are paying into your escrow account, too. Reasons your expenses changed may include: Insurance: Changes...
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Last Updated: 09/28/2023
in Escrow Statement FAQs
We review your escrow activity at least annually to help ensure your account has enough funds to cover your property tax and/or insurance expenses, which can change from year to year. After each review, we send an Escrow Account Disclosure St...
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Last Updated: 07/23/2024
in Year-End Statements
When and how will I receive my year-end statement? Year-end statements are sent by January 31 each year. If you enroll for electronic year-end statements by December 27, 2024, we will notify you by email when your statement is available online ...
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Last Updated: 05/30/2024
in Lower My Payment
Will a recast lower my monthly mortgage payment? If your loan is eligible, recasting your loan may be an option to lower your payment as an alternative to refinancing. A recast typically involves making a one-time payment to reduce your loan p...